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Applications for US unemployment aid fall to 340K

Applications for US unemployment aid fall to 340K
Submitted by Fox First at Ten on May 23rd
By PAUL WISEMANAP Economics Writer WASHINGTON (AP) - The number of Americans applying for unemployment benefits fell 23,000 last week to a seasonally adjusted 340,000, a level consistent with solid job growth. The less volatile four-week average ticked down just 500 to 339,500, the Labor Department

EU performs abrupt U-turn on olive oil regulation

EU performs abrupt U-turn on olive oil regulation
Submitted by Fox First at Ten on May 23rd
BRUSSELS (AP) - The EU has something important to say about its proposal to regulate olive oil on restaurant tables: Uh, never mind. Last week, the European Commission, the EU's executive branch, said that restaurants should only be allowed to serve oil to customers in non-refillable bottles

US new home sales up 2.3 percent in April

US new home sales up 2.3 percent in April
Submitted by Fox First at Ten on May 23rd
By MARTIN CRUTSINGERAP Economics Writer WASHINGTON (AP) - U.S. sales of new homes rose in April and nearly matched the fastest pace in five years, driving the median price to a record high. The gains suggest the housing recovery is strengthening. New-home sales increased 2.3 percent in April from

US rate on 30-year mortgages rises to 3.59 pct.

US rate on 30-year mortgages rises to 3.59 pct.
Submitted by Fox First at Ten on May 23rd
By MARCY GORDONAP Business Writer WASHINGTON (AP) - Average rates on fixed mortgages rose for the third straight week, hitting their highest levels since mid-March. Still, mortgage rates remained close to historic lows, a trend that should help sustain the housing recovery. Mortgage buyer Freddie

Stock slump continues on Wall Street

Stock slump continues on Wall Street
Submitted by Fox First at Ten on May 23rd
NEW YORK (AP) - A global stock market slump is continuing on Wall Street as traders worry about how committed the Federal Reserve remains to keeping up its bond-buying program. The Dow Jones industrial average fell 112 points to 15,191 in early trading Thursday, or 0.7 percent. The Standard &

ECB official: New bank authority 'indispensable'

ECB official: New bank authority 'indispensable'
Submitted by Fox First at Ten on May 23rd
By DAVID McHUGHAP Business Writer FRANKFURT, Germany (AP) - A top European Central Bank official is calling for quick creation of an agency with powers to restructure and wind down busted banks, in an apparent pushback against Germany's insistence that such fundamental changes should take time

Ralph Lauren's 4Q profit rises 35 pct

Ralph Lauren's 4Q profit rises 35 pct
Submitted by Fox First at Ten on May 23rd
NEW YORK (AP) - Ralph Lauren Corp. reported a 35 percent increase in fourth-quarter profit as the luxury retailer benefited from lower cotton prices and cost controls. But the seller of Polo and other brands saw its stock fall Thursday because its revenue fell below Wall Street expectations amid

Applications for US unemployment aid fall to 340K

Applications for US unemployment aid fall to 340K
Submitted by Fox First at Ten on May 23rd
By PAUL WISEMANAP Economics Writer WASHINGTON (AP) - The number of Americans applying for unemployment benefits fell 23,000 last week to a seasonally adjusted 340,000, a level consistent with solid job growth. The less volatile four-week average ticked down just 500 to 339,500, the Labor Department

US equities sell-off goes on; futures slump

US equities sell-off goes on; futures slump
Submitted by Fox First at Ten on May 23rd
NEW YORK (AP) - The momentum of a late sell-off on Wall Street carried over into a second day, sending U.S. futures and global stock markets into retreat. Uncertainty over how committed the Fed remains to a massive bond-buying program scattered investors and overshadowed a Labor Department report

Stricken Japan nuke plant struggles to keep staff

Stricken Japan nuke plant struggles to keep staff
Submitted by Fox First at Ten on May 23rd
By YURI KAGEYAMAAP Business Writer TOKYO (AP) - Keeping the meltdown-stricken Fukushima nuclear plant in northeastern Japan in stable condition requires a cast of thousands. Increasingly the plant's operator is struggling to find enough workers, a trend that many expect to worsen and hamper

Most Popular Stories

Obama To Visit Tornado-Ravaged OK Town

Obama To Visit Tornado-Ravaged OK Town
Submitted by Fox First at Ten on May 22nd
WASHINGTON (AP) - President Barack Obama will travel to tornado-ravaged Moore, Okla., on Sunday.    That's according to a White House official, who wasn't authorized to publicly discuss the trip ahead of the official announcement and requested anonymity.    A

Small Fla. city anxious to learn jackpot winner

Small Fla. city anxious to learn jackpot winner
Submitted by Fox First at Ten on May 20th
By TAMARA LUSH and BARBARA RODRIGUEZAssociated Press ZEPHYRHILLS, Fla. (AP) - It could be an anxious wait of up to two months for people in a small Florida city to find out who won the highest Powerball jackpot in history: an estimated $590.5 million. The lucky ticket was bought sometime Saturday

SAY WHAT?!? Freak Snow In Washington State Town Cancels School

SAY WHAT?!? Freak Snow In Washington State Town Cancels School
Submitted by Fox First at Ten on May 22nd
BICKLETON, Wash. (AP) - A freak snow has given students a snow day in May in the Klickitat County town of Bickleton.    School Superintendent Ric Palmer says 10-to-12 inches fell in places overnight and heavy snow brought some tree branches down on lines, knocking out power and